Comp Underwriting Profits Top Property/Casualty Lines in 2020

Workers' compensation held its reign over other property/casualty lines on underwriting profits in 2020, A.M. Best reported Wednesday. Underwriting results of workers' compensation insurers remained strong in 2020, despite a 10% decline in bottom-line net premiums written, attributed to a significant drop in payrolls during the second quarter of the year, according to the report. Researchers note that a decline in premium correlated to an increase in expense ratios that did not overly dampen underwriting earnings. As the line most sensitive to economic cycles, according to A.M. Best...